BI, Government Coordinate the Regional Economic and Financial Development

Jakarta, InfoPublik - Bank Indonesia, Ministry of Home Affairs and Ministry of Finance are committed to strengthen their coordination and cooperation on regional economic and financial development.

The commitment is manifested in the signing of a Memorandum of Understanding between Bank Indonesia Governor Agus DW Martowardojo, Home Minister Tjahjo Kumolo and Finance Minister Bambang Brodjonegoro P.S.

Bank Indonesia Governor said the Memorandum of Understanding on Coordination for Regional Economic and Financial Development is a follow up for the Policy Package I (first) conducted by the Government, Bank Indonesia and the The Financial Services Authority (OJK).

This Memorandum of Understanding is required as the foundation for more solid implementation of cooperation and coordination in order to foster regional economic and financial development," Agus said in a written statement received in Jakarta, Saturday (23/4).

According to him, it is in line with the increasingly important role of region in national economy since the decentralization policy initiated in 1999.

"The region’s role is also more strategic with the increasing amount of budget allocation are  transferred to region and village fund are almost as big as the budgets of ministries/agencies," he said

Agus affirmed the synergy between Bank Indonesia, Home Ministry, and Finance Ministry of is expected to optimize the role of Bank Ionesia’s local representative office, together with Local Government and the finance Ministry’s representative office throughout Indonesia to encourage the acceleration of economic development and to strengthen financial management in the region. (Translator: Sugiarti)